Olympus Corp. is getting out of the camera business after 84 years
to focus on medical devices. […]
Olympus was a global consumer brand for decades thanks to its
cameras, hiring the likes of supermodel Cheryl Tiegs to promote
its products on television. It shifted readily to digital cameras
in the 1990s and was No. 2 in market share behind Sony Corp. early
As recently as 2007, the dawn of the smartphone era, digital
cameras were a $3-billion-a-year business for Olympus. Within a
few years, however, most of the market evaporated because people
were using their phones to take pictures. Camera revenue shrank to
just over $400 million in the year ended March 31, and the
business has lost money for the past three fiscal years.
The times they are a-changing.